Military spending in Europe has surged to new heights, with a 16% increase in defence and security outlay across the continent from 2022 to 2023. According to a report by the Stockholm International Peace Research Institute (SIPRI), Europe’s total military spending reached €552 billion in 2023, surpassing the levels seen during the Cold War.
The rise in military expenditure is largely attributed to the ongoing conflict in Ukraine and increasing tensions with Russia. Since Russia’s annexation of Crimea in 2014, European countries have been steadily increasing their defence budgets. The full-scale invasion of Ukraine in 2022 further fueled this trend, prompting governments to ramp up their military spending at an unprecedented rate.
Western and Central European countries have been at the forefront of this surge in military expenditure, with the UK emerging as the largest military spender in Europe in 2023. Germany also significantly increased its defence budget by 48% from 2014 to 2023, finally meeting the NATO target of spending 2% of its GDP on defence annually.
However, it is Poland that has made the most significant proportional increase in its defence spending, more than doubling its arms budget since 2014. President Andrzj Duda has been vocal about the need for NATO members to increase their spending, citing concerns about potential Russian aggression.
Overall, the trend of rising military spending in Europe reflects a region on high alert, with countries bordering Russia and Ukraine feeling the most acute threat perceptions. As tensions continue to simmer, European nations are prioritizing their defence and security to safeguard against potential threats in the region.